tv Fast Money Halftime Report CNBC October 22, 2015 12:00pm-1:01pm EDT
the situation across libya was becoming more dangerous, and there were concerns about eastern libya. >> did you read the piece that was libya, al qaeda establishing sanctuary? >> i'm aware that that was certainly among the information provided to me. >> there was another particular piece that was talked about after the ied attack that was written. "al qaeda expands in libya." were you familiar with that? >> i can't speak to specific pieces, congressman, but i was well aware of the concerns we all had about the setting up of jihadist training camps and other activities in libya particularly in eastern libya. >> you were briefed and i think the cia between january and september of 2012 at over 4,500
pages of intelligence. were you aware. >> did they keep you up to speed on all the 400 cables or different things that they were getting? did they keep you up to speed on that? were you aware of them? >> congressman, i cannot speak to specific reports, but i can certainly agree with you that i was brief and aware of the increasingly dangerous upsurge in militant activity in libya. >> what did you do to make sure that our men and women over there were protected knowing how much the threat had grown, especially in benghazi because a
lot of people say that really in the summer of 2012 the security in benghazi was worse than it was during the rel use. >> the definite department, the state department officials responsible for libya to leave benghazi. in part, as i responded to congressman smith, we had so many attacks on facilities that as i said, went back to 2001, that certainly also happened in other parts of the world while i
was there. there was not a recommendation. furthermore. there was not even on the morning of september 11th while chris stevens and sean smith were at the compound, chris had spoken with intelligence experts. there was no incredible actionable threat known to our intelligence community against our compound. >> reclaiming my time. >> you said that the ambassador chris was pulled out of tripoli because of threats on his life. >> there were threats from people associated with gadhafi after because of the publication of cables he had written that were made public by wiki-leaks. >> you said you were aware of the two attacks at the mission.
>> are you familiar with the other 18 snoo. >> there were two that we thought rose to the level of being serious. >> were you familiar with the other 18? >> i'm not aware of 18 others, and i would point out and i'm sure that former deputy director morrell made this point when he was testifying. the cia stayed in libya. the cia had a much bigger presence than the state department. sflo it was thought to be even more important for the cia to stay there, and they also did not believe that their -- i think sometimes -- you know, sometimes the discussion gets pulled together when really we had chris and sean dying at the state department compound, which
we were discussing. we had our other two deaths -- >> key claiming my time for just a minute. i do appreciate that. if you talk to the cia contractors that were at the annex, and you ask them how they were armed and equipped and then if you would or could talk to the diplomatic security agents that were at the facility i think you will see that there's a big, big difference in the equipment they had protect themselves. you knew of the two what you call major incidents, but you don't rekt the other 18 that mr. morrell says happened. how many instances would it have taken you to say, hey, we need to look at a security over there. would it have been three major instances, 30 instances, 40
instances, 50 instances? how many instances would you have been made aware of that would have made you say -- we're going to protect our people. chris steechbs a good friend of line. we're going to look after him. how many would it have taken -- >> congress map, of course, i made it abundantly clear that we had to do everything we could to protect our people. what i did not and do not believe any secretary should do was to substitute my judgment from thousands of miles away for the judgment of the security proefrl who's made the decisions about what kind of security would be provided. i know that sounds somewhat hard to understand, but, you know, we have a process and the.
ever one came to me and said we should shut down our compound in benghazi. >> i'm not saying shut it down. >> i don't know who those folks were, but just my little -- >> they risked their lives to try to save -- >> weren't professional when it came to protecting people. >> let me say this. you said that the mission that you gave ambassador steven was to investigate the situation. it would seem to me like you would have to get out into the country to investigate that. i don't know if you are aware or not, but there were not even
enough diplomatic security for him to leave the compound without asking the cia operatives to assist them. >> were you aware of that? >> we had to come to the aid. it was a mutual agreement. >> that was a written agreement? >> no, it was not a written agreement. we are posted with the cia in many places in the country in the world. it's important to have a good working relationship, and we did. despite although weapons and despite the fortification, two cia contractors died at the cia annex that night. >> just to follow-up on one thing about ambassador stevens, you got a lot of emails from sydney bloomenthal, and you say that he was a friend of yours.
you say chris stevens was a friend of yours. he asked numerous times for extra protection. if i had been mr. stevens, and i think anybody out there, anybody watching this would agree. >> if i had requested 20 or more times -- not only my life, but the people that were there with me, i would have gotten in touch with you some way. would i have let you know that i was in danger and that the situation had deteriorated to a point i needed to you do something. did he have your personal e-mail? >> congressman, i do not believe that he had my personal e-mail. he had the e-mail, and he had the direct line to everybody that he worked with for years.
he had been in touch with officials at the state department. they had been through dangerous assignments together. he was in constant contact with people. yes, he and the people working for him asked for more security. some questions were approved. others were not. we are interested to learn what more we could do because it was not only about benghazi, but it was also about the embassy in tripoli. it's fair to say that chris asked for what he and his people requested because he thought it would be helpful, but he never said to anybody in the state department we just can't keep doing this? we just can't -- we can't stay there. he was in constant contact with
people on my staff, other officials in the state department. i did have an opportunity to talk with him and i have to add they are among the best in the world. i just cannot allow any comment to be in the record in any way criticizing or disparaging them. they have kept americans safe in two wars and in a lot of other really terrible situations over the last many years. i trusted them with my life. i trust them with yours when you are on cod el's. they deserve better, and they deserve all the support that the congress can give them. they're doing a really hard job very well. >> all i can say is they missed something here, and we lost four
americans. >> now recognize the gentleman from kansas, mr. pompea. >> we have been listening to the benghazi hearings on capitol hill. the former secretary of state, current candidate for the presidency of the united states, testifying before that committee, and hillary clinton defending or at least attempting to defend her record in the lead-up to the 2012 attacks in benghazi, libya, which cost the lives of four americans, including the u.s. ambassador there. you can continue to watch that testimony live on cnbc.com. eamon, you have been listening to what have been compelling exchanges today between members of congress and someone who could end up being the next president of the united states. >> yeah, that's right, scott. we saw that in that exchange just now with congressman wes moreland of georgia. one of the more contentious exchanges there in which he asked whether or not ambassador chris stevens who was the u.s. representative on the ground in benghazi, libya. actually had hillary clinton's
personal e-mail address. she was forced to admit no, he did not have that, but he had plenty of other ways to get in touch to talk to the security teams to talk to the department of state. that was the moment where it appeared one of the members was getting you should her skin. her entire game plan throughout what is expected to be about eight to ten hours of testimony on this today is to provide any soundbyte the republicans can use against her in the upcoming presidential election. republicans obviously looking for that moment if they can find it and looking to get to the bottom of what happened in benghazi. >> this is not going to be resolved today no matter how
this all comes together. >> you do have someone sitting testifying before congress that could be the next president. >> absolutely. you saw that right from the get go, right? what we saw at the beginning, the opening statements of the chairman who says is a republican and the ranking member who is a democrat, both very contentious. both very aggressive. and she showed a softer, more reasonable sounding tone in her voice and demeanor, all of which seems like it's an effort to make her appear presidential if her responses to this. not getting into a personal back and forth, but instead arguing the united states can't pull back from dangerous places in the world.
i think that's the soundbyte she wants to get out there, that she is somebody as a leader of the united states who is willing to be out there in dangerous parts of the world on behalf of the u.s. national interest. >> eamon, thank you so much. live with the very latest in washington. again you can to this testimony live on cnbc.com. the only red on wall street today or on the screen anyway are at the bottom of your television set because, otherwise, it is a very green day on wall street. the major averages up by around 1.5%. pretty good earnings from ebay last evening. followed by mcdonald's this morning. that certainly is giving the dow a pretty good day.
>> we were told we needed reverse what we are seeing right now. the stories about earnings, the stories about money managers right now chasing the market higher. the retest of the august lows never happened, and it's going to continue until month's end. >> josh. i still think this is a story of stocks that really were left for dead coming back. they're making these huge out-sized moves because they had spend most of the prior year selling off. you had stocks that are down 40%. going up 10% in the course of a week or two. it improves psychology. just an example. over the last 20 days. within is materials. the other is energy. it's not bad those stocks are up. you have health care down 5.5%.
sflo you have the vix dropping to 15 around the 200 day moving average. >> well below 200 day. it closed up very close to the 200 day moving average around 1660. it's been under that 200 day moving average for a while now. we were talking about it the other day. it gives you an opportunity. storks were getting hit. volatility was high. find good stocks. buy stocks and sell some premium against them. now that strategy changes as we move higher and higher. we've broken underneath that, and we talked about it the day that it did just recently. now it's time to hold on to some of those and actually buy some of that protection because it's so cheap right now. take a look at the way the financials have been trading. down market, up market. you look at something like jp morgan. 63.5. you look at prudential and a lot of these different financials across the board.
we've already heard from them. >> look at microsoft ahead with the big surge in earnings, and look at lamb research and kclm. this side is running up to the up side from the lower left to the upper right. the real thing pulling us down and pulling the bioteches and health care down was valeant, and you had it wall to wall yesterday, scott, as far as betwe
between. >> i think they're trying to break out. >> there was some individual names that look outstanding or are making big post-earnings moves. i love to see that. >> you mentioned valeant. that stock is getting hammered. can you pull it up on your screen and take a look. bmo has downgraded the stock to neutral. >> the lowest behind the call today, he joins us on the phone. alex, thank you so much for coming on today. >> you've had an outperform by valeant. why change it today. >> sure. we've been big valeat gold. it was the top pick in december of 2014.
>> we've defended all the other allegations that came up during the battle, including the m&a strategy, their tax structure. the more we dig in, we can't defend the structure. this is the one allegation we cannot defend. we believe this structure is questionable, aggressive, and, unfortunately, it capped out on a company that had very little visibility. >> i guess my response to that would be if a part of the business accounts for revenues. that being specialty pharma, how didn't you know about it before?
did you? did you discount it before? are you learning a new metric about how this company does its business? i'm just surprised in thinking as an analyst that is research this company from top to bottom and inside and out that a component that would account for 10% of its revenues would suddenly be a revelation for you. >> we are learning that they have a controlling interest in one of the specialty pharma chains. one of the other companies use specialty pharmacies, but the difference there as they came out and said yesterday those pharmacies are operating independently.
>> we think these pharmacies should be operating independently. the other thing that's new here is that on the valiant earnings call, they've reported that because basically they are consolidating financials with these specialty pharmacies. >> we believe that should have been disclosed. >> so bill george, who is the former ceo, as you may know, of medtropical tronnic was on earlier today. used words to describe valeant such as house of cards, mentioned tyco in the same sentence. are you worried there's fraud we don't know about yet? >> citron has made the argument this is the next enron, and we argue in our note that we're not enron accounting experts, but based on what we can tell, the
cash flow is more there's no smoking gun that would would prove there's financial fraud going on. that's not what we are saying. what we are saying is that the lack of disclosure and the uncertainty associated with this structure, unfortunately, fuels that skepticism that those attacks that continue to linger on and as long as that uncertainty is there, unfortunately, it will not work. that's the argument. >> alex, i appreciate you taking time out of what i know is a busy schedule today to make this phone call. thanks so much. >> thanks for having me. >> bmo's alex. downgrading this stock. that being valeant to neutral and has an outperform on it for a couple of years. coming up, much more to talk about certainly with this market rally. we'll talk about five star mutual fund manager beating 9 9% of his peers over the past
decade. why has he lost his love for apple? you want to hear from t. rowe's josh spencer. first in business worldwide. ♪ today, we're seeing new technologies make healthcare more personal with patient-centric, digital innovations; from self-monitoring devices that can interpret personal data and enable targeted care, to cloud platforms that invite providers to collaborate with the patients they serve. that's why over 90% of the top 25 global pharmaceutical companies are turning to cognizant. our domain experts, technologists, digital and data specialists, clinicians and scientists are transforming the way clinical research sites collaborate with pharmaceutical companies, and enhancing patient engagement with innovative platforms and solutions. our population's growing healthcare needs present growing opportunities for our clients: to advance the future of medicine with digital,
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all right. welcome back. we're learning some surprising news today about apple with word that a five-star fund manager who has beaten 99% of his peers over the past decade has lost his love for the stock. t. rowe price's josh spencer who runs that firm's global technology mutual fund saying the company's best days are behind it. he joins us live today from baltimore. josh, welcome back. >> what's your history with this stock, and why don't you have a big position with apple? >> it's not that i have lost my love for the company. the company continues to do phenomenal things and has a great install base. >> are you saying it's the law of large numbers? >> this was actually the largest holding in my fund a couple of
years ago. at the time the stock was a lot lower, and it felt like it had a chance to really outperform. at this point i think it's more attractive than it was certainly at 130 or 140. >> the iphone 6 was such a fantastic product cycle. the 6s won't have the same -- the larger size screen captured a lot of new customers. we're waiting for incremental innovation around things like the apple car. >> josh, it's joe. obviously you have owned apple in the fund in the past. where are you now reallocating to in the tech sector? >> well, it's interesting. for the past year or so, the tech market has felt narrow.
my biggest holding has been amazon, and i love that company. it's done phenomenally well, but i'm seeing a broader set of opportunities. things like the semiconductor sector, for example. i think we're through the worst with the economy and with china and some of more sensitive stocks that should start to do well zoosh your biggest holding, in fact, is am sdwlon. just added your position. a few months ago it gave us an attractive bring point. i'm very optimistic about what they'll say tonight. i'm also broadening out our holdings into some other areas as well. such as what? >> applied materials. avago. we're seeing a lot of m&a activitied and improving fundamentals in that sector if you, for example, look at what texas instruments had to say
last night. >> is there anything that gives you a more positive sense? do you just disregard that? >> well, i think what's going on is the these are increasingly big markets. that's where you are seeing the strength. apple will have a good product with the 6s. they have the fantastic install base. my only argument would be it's not going to be quite as big as the six and the stock because of the law of large numbers. won't be a fantastic performer. >> i do want to know that you have the dow jones industrial average. it's now better than 300 points. it's a gain of 305.
what do you think joe is behind such a big move today? >> it's a chase for performance. it's the ecb telling you that possibly there's going to be more stimulus in their qe program. a lot of fears have pulled back, and you are getting a broad-based rally. consumer discretionary doing very well. >> looks at the 2% move you are seeing in the euro. this is one of the biggest move drops, of course. euro dropping versus the dollar.
>> what draghi said today it's more to your point, scott, not the earnings. it's more about mario draghi and those lower interest rates and which instruments he may use because he said he has a whole menu of them available. >> in the instumts he may use, dollar going up. not great for stocks. i don't know if we learned that game yet. >> we'll talk about mcdonald's in a bit, but one of the reasons mcdonald's really outperformed in the quarter in my opinion was they weren't fighting the headwent of that strong dollar. this is a one-day move in the your wroe. up next we'll talk to the head
my name is griselda zendejas. i love working in the salinas area because i always wanted to do something where i could help people around me. so being a construction supervisor for pg&e gives me the opportunity to give a little bit back to my community. i have three boys. they're what keep me going every day. our friends, families live in the area. and it is important for all of us that we keep our community safe. together, we're building a better california.
>> hello. i'm sue herrera, and here's your krr nbc news update at this hour. an american soldier was killed as american and kurdish commandos raided an islamic state outpost in northern iraq. they rescued about 70 kurdish hostages in that operation. it is the first u.s. combat fatality on the ground in the fight against isis in iraq and syria. >> secretary kerry will meet with palestinian president mahmoud abbas on saturday. >> a strong majority of anti-establishment conservatives in the house freedom caucus voting last night to support his bid for speaker. the new york mets are going
to the world series for the first time since 2000. they swept the chicago cubs in the national league championship series. the mets winning 8-3. they will meet either the toronto blue jays or the kansas city royals starting next tuesday. that's the cnbc news update this hour. back to you, scott. >> sue, thank you so much. >> take a look at the markets. want to show you once again that the dow is up better than 300 points. the gain of 1 3/4%. >> jeff sherman -- with mr. gundlock. jeff here today. good to see you. we mentioned you started in may of 2015. you must like walking into the fire or something. it's something that we've been
investing in in our macrofunds for many years. it's just time for retail investors to have access to the sector, and we want to bring expertise to that area. >> do you have a long of long exposure obviously to the space. where are we in this area? >> this can achieve diversification. the fund that we've created is not just long only. it does have the ability to short certain parts of the market, and we think that brings more diversity and gives you other opportunities as well. snoo what's attractive right now to you in this space? >> well, what i prefer if i have to pick a single sector is really the agricultural sector right now.
a statement that you like ags equal that you don't like energy? >> it's not that i don't like energy. the fact is i just think it's going to be a prolonged kind of trading range for a while. the reason for that is if you actually look at the bond market, it's telling you that this lower for longer cycle could be in place. what i mean by that, you look at the borrowing costs on energy names with the high yield sector. over the last couple of months, while energy has traded sideways, these companies had to spin a lot more money borrowing debt. the spreads haven widened significantly. energy could stay lower for longer range. there's more cyclicality.
to some extent you are almost adding more stock exposure give or take? how do you answer back and say no, there is a place for commodities? >> there is a place for commodities. when we talk about commodities, what we're doing is not investing in bonds or stocks of the company. although there has been a financialization and more investor interest, as you tell your clients, what you really want to do is stick to a game plan, right? what you have seen is that you have had a lot of pressure in this market on the down side, and ultimately you still have to stick with your plan. you are talking about diversity. diversification. you know that over time that the diversification will -- >> do you think they'll still work? >> that's right. that's correct. >> i think we said at the top, you co-manage the tactical bond etf with jeffrey? is that correct? >> yes. >> what do you think of the
ten-year today at 202, 203, and what the fed is going to do between now and the end of the we're, and throwing the cavat out that swrefry has been clear with me and others that he doesn't see the fed moving this year? >> no. the ten-year at this level is somewhat attractive. it's not something that we get excited about at this level. we're relatively neutral on the ten-year at this stage. >> credit is where the -- >> i get emails about your shirt and tycom bination, and you did say you are a san francisco giants fan. you left it there with the mets. >> it's mets orange. >> it's good to see you. >> thanks. appreciate it. >> double line. next up on cnbc, one disruptor
looking to give retail investors exclusive access to ipo's for as little as $250. that's right. $250. how can you get in on that? he is going to join us next to explain. you are watching cnbc first in business worldwide. here at td ameritrade, they work hard. wow, that was random. random? no it's all about understanding patterns like the mail guy at 3:12 every day or jerry, getting dumped every third tuesday.
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>> coming up at the top of the hour on "power lunch" a big rally on the street. mcdonald's shares soaring on the stronger earnings beat. is the bug burger giant back? there's something going on with small caps that might raise red flags about the overall market. forget the debate over raising rates. is it headed for a negative rate? what is happening in the u.s. treasury market lately? it's all coming up at the top of the hour. make sure to join us. >> we will be there in 15 minutes. >> our next guest teaming up with jp morgan to offer the little guys access to some of
the street's biggest ipo's. >> good to see you again. >> it's intriguing in the headline in and of itself. everybody gets access to ipo's for 250? >> this is an exclusive partnership jm pouringan where jp morgan ipo's will be available -- >> when they're the lead underwriter. >> the lead underwriter. when investors come to our site, they can open up an account, and we walk them through the process of how to bid for preipo stock, and we work them through all the process, and then when they're ready to submit a conditional offer, they can do that. when the stock gets priced, we deliver the shares to the customer. >> it's a great headline-grabbing thing. >> i have to admit when i heard about this, i said okay. >> the ipo market, if it wasn't at the top, does this mark the top in the ipo market? >> i think that we're doing this
for two reasons. the one thing is that there's a demand by issuers. they want to broaden their holding of stocks, and this is a good way of doing that. the second point is about this is if you look at the average pop of an ipo on the first day, it's not -- this has turned into 19%. why can't individual investors participate in this? our view is the pipeline looks strong going into 2016. 2015 everyone is looking in and saying it's a slow year. remember, $90 billion went public last year. $25 billion was alibaba. everybody is setting reel really high benchmarks. >> lately it is what jim cramer said this morning suboptimal. the ipo market has not been great in the last, i don't know, at least month. >> absolutely. you are seeing that in just this year i think there are about $28 billion, 1 1 ipo's. it's a marked slowdown. a lot of this driven by tech. the whole unicorn debate that's
happening. that will figure itself out. the ipo market stems beyond just tech. there are loots of different sectors. >> i -- i raise the issue itself because there are nonteshg ones that have pulled their ipo's in the last two weeks. >> right. >> renaissance is reporting that the actual ipo they viewed this year is around negative 4% through the end of the third quarter. are you giving people -- all right, you got the opening pop. are you telling people to be ipo flippers or telling them to stick with some of the things because i would say it's about half and half which ones pan out and which ones gave unrealistic expectations to the street. >> i think our -- if you look at
the numbers. 58% of companies this year are trailing below their ipo price. it was not a good year. that's definitely true. i think for us we want to give people access, and i think when people go in, retail investors tend to invest in things they understand. that's been a premise of motif all along. if you understand the space, you can get in and go in, and that's one of the advantages of our platform. we know people who are knowledgeable in biotech. we can actually surface these things to them. for us it's easier to paint a brush on everything and go in and make statements. there's a lot of things hidden in there, but our whole point is we want to give people access. >> let them make the xhois. >> let them make the choice there. >> interesting. it's motif investing.coming. >> it's motif investing.com/i pos. >> good stuff. >> thanks. >> he is the ceo of motif. >> well, cnbc programming note. tonight 10:00 p.m. eastern you don't want to miss pit bull fame and fortune. our michelle car russo cabrera sat down with the entertainer and entrepreneur, and here's what he said about investing. >> i don't spend.
i invest. i don't buy planes. i don't buy boats. i don't buy cars. the only thing that i do spend and splurge on is helping my family. making sure that they get to enjoy the fruits of our labor. >> to help maintain maintain th lifestyle pit dabbles in the markets. >> what stocks have you invested? >> go pro, apple, invested in facebook. i'm a big believer in biotech. biotech is different. it's already growing, but five years from now it's going to be something that is not only growing, it's visual and tangible but i'm not trying to flip and make money. i let it there and see what happens maybe 15 years from now it grows into something phenomenal. >> tonight 10:00 p.m. eastern time right here on cnbc. reported by our very own michelle caruso-cabrera. how about tech giant amazon, alphabet, set to report earnings after the bell. [female announcer] during mattress price wars at sleep train,
plus, helpful advice from the sleep experts. don't miss mattress price wars at sleep train. welcome back. there's your market picture at this hour. a strong day for stocks. the dow up nearly 300 points, right around the highs of the day. mcdonald's accounteding f acco t mcdonald's accounteding f accine portion of that. the hillary clinton benghazi hearing still in progress on capitol hill. eamon javers has been watching and listening in down in d.c. with the very latest. eam eamon, bring us up to date. >> within the past couple
minutes, the questions have turned for the first time now to hillary clinton's statement on the night of the attacks that there was a video involved in the setup to this attack. hillary clinton saying that her statement that night was simply meant to say that no video could justify this kind of attack, but a lot of republican criticism here of her response and the rhetoric surrounding that video as part of the administration's overall response to this attack. we also saw a lot of questioning here about whether ambassador stevens, who was killed in the attack, got the kind of security that he had asked for again and again for the state department. here is what hillary clinton had to say about that issue. >> i'm not going to in any way suggest that he or the embassy got everything they requested. we know that they didn't. the day that he died he had five security officers. a lot of security professionals who have reviewed this matter, even those who are critical that
the state department did not do enough, have said that the kind of attack that took place would have been very difficult to repel. >> scott, this hearing has been going on for just about three hours now, and we expect eight to ten hours overall today. the way it's breaking out is that hillary clinton is getting some tough questioning from republicans and then time to rest mentally when democrats come at her with questions that are very easy for her to answer and respond to. so we're getting sort of this ping-pong effect. we expect that to congretinue a day. >> thanks so much. back with eamon throughout the day with headlines from the hearings. markets are in rally mode. we'll get your game plan set up for the second half after this quick break. (cole) alright, now that we have merged with cableworld, we are so excited to hear your big ideas on how we're going to take on directv. so over to you. (newhart) thank you. full disclosure. we forgot to come up with ideas. (cw exec) yeah, we got messed up last night. you're lucky we're even here. (newhart) but, we did bring breakfast. (jmh) bagels? (newhart) nope. (woman) oh my goodness.
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big earnings after the bell today. there you see it as well. google, otherwise known as alphabet. amazon, microsoft, at&t, lily. what do you have your eye on. >> amazon. a lot of people paying attention to amazon web services, what's the revenue there. >> american airlines tomorrow morning, judge, because we've had consistent buying in this stock. it's one of the outperformers i think especially now with the focus off united for the short term anyway because of their ceo issues. so american airlines before the bell tomorrow. >> pete? >> microsoft. monday we talked about the unusual buying. those options have doubled. i think this cloud world is growing for them faster than the others. i think they're beating everybody at that game. i think they're going to put up a big number. >> josh? >> i'm with both these guys on amazon and microsoft. i think it's key to understand you only need one real bright spot earnings report to spark an
entire rally in the overall market. i think mcdonald's served that role today, quite frankly. i think that got the wheels in moths amotion all across the ara in areas that have nothing to do with burgers. >> thanks. thanks for watching. we'll see you tomorrow. "power lunch" begins now. scott, gentlemen, thank you very much, and welcome to "power lunch." along with mandy drury, i'm tyler mathisen. the bulls are large and in charge. a big rally right now. sgroo shar >> shares of valeant pharmaceutical tanking for a second straight day. now some of the top analysts on wall street that cover the stock are also raising concerns. what they are saying. we'll tell you. and forget the debate over rising interest rates. is the u.s. actually headed for negative rates? what's happening in the u